Bay Rivers Group Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Bay Rivers Group trimmed its position in Johnson & Johnson (NYSE:JNJ) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,973 shares of the company’s stock after selling 250 shares during the period. Bay Rivers Group’s holdings in Johnson & Johnson were worth $659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth about $29,000. Bay Harbor Wealth Management LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth about $32,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth about $33,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth about $36,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JNJ. Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday, April 16th. Bank of America cut their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Barclays cut their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Down 0.7%

JNJ stock opened at $153.39 on Thursday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $369.07 billion, a P/E ratio of 23.07, a PEG ratio of 2.56 and a beta of 0.42. The firm has a 50 day simple moving average of $153.81 and a 200-day simple moving average of $153.67.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. On average, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.39%. Johnson & Johnson’s dividend payout ratio (DPR) is 57.84%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.